Beijing, 17 Jul (Xinhua) -- Resilience is expected to be stable -- overseas people are talking about China's semi-annual report on China's economy
Xinhua News Agency
The economic data released in the first half of this year showed that China's economy faced the impact of unexpected factors that exceeded expectations, overcame difficulties to maintain growth, and showed a trend of stabilization and recovery. Overseas observers believe that the current world economy is facing challenges such as high inflation and increased risk of recession, and it is not easy for China's economy to achieve its current achievements in a very unusual development environment, showing resilience and potential, and its long-term healthy fundamentals will continue to bring confidence and opportunities to the world economy.
The economic foundation is solid and resilient
The latest data show that in the first half of the year, China released a series of positive signals in the fields of economic growth, price level, manufacturing and foreign trade. Gross domestic product (GDP) grew 2.5% year-on-year in the first half of the year, with positive growth in the second quarter.
Observers pointed out that China's economic foundation is solid and resilient, maintaining favorable factors to support growth, and its stabilization and recovery are also important benefits for the world economy.
Gu Qingyang, associate professor at the Lee Kuan Yew School of Public Policy at the National University of Singapore, said that with the rapid recovery of China's domestic industrial chain supply chain, China's economy has shown strong vitality and resilience.
Kenyan economist Beatrice Matiri-Maisori said that China's economic foundation is solid, and in the context of repeated covid-19 epidemics and complex and changeable international situations, the economic data in the first half of the year has shown the world the resilience of China's economy.
Workers work on a production line in the production workshop of a textile company in Nanmo Town, Hai'an City, Jiangsu Province, on July 15. (Xinhua News Agency, photo by Zhai Huiyong)
Fu Xiaolan, director of the Technology and Management Development Research Center of the University of Oxford in the United Kingdom and an academician of the British Academy of Social Sciences, told reporters that the data in the first half of the year showed that the foundation of China's economy was solid. In addition, the stable recovery of China's economy provides important support for the normal operation of the global industrial chain supply chain and is of great significance to the stability of the world economy.
Huang Weixiong, dean of New Zealand Business School, said that as China increases the implementation of a package of policy measures to stabilize the economy, the policy effect will be further released, and the economy is expected to continue to recover in the second half of the year, and the economic operation will return to a reasonable range.
Precise policy force The market is stable
In response to the downward pressure on the economy, the Chinese government has effectively guided market expectations and smoothed the national economic cycle. Seven major policies such as macro, micro, structure, science and technology, reform and opening up, region, and society have accelerated their landing, and incremental policy tools have been planned and launched to stabilize the macroeconomic market.
Observers have noted that China's precise policy of not engaging in "flood irrigation" type of strong stimulus, in order to ensure supply and price stability policy combination to stabilize the price level, to reserve policy space for the future to deal with the downward pressure on the economy.
Vobidov, chairman of the Fergana Oblast branch of the Uzbekistan Journalists Association, said that under the pressure of global inflation, the increase in consumer prices in China is significantly lower than that of European and American countries by more than 8%, in stark contrast to high international inflation.
On May 16, consumers buy vegetables at a supermarket in Yuqing County, Zunyi City, Guizhou Province. (Xinhua News Agency, photo by Wang Yongjuan)
Humphrey Mosi, director of the Center for Chinese Studies at the University of Dar es Salaam in Tanzania, said that in terms of price control, China's scientific and steady policy measures have achieved very good results and have also provided other countries with experience to learn from.
Bank of Thailand Governor Thabu Sutivanarubu believes that China has enough policy space to cope with the downward pressure on the economy, and the medium- and long-term outlook remains optimistic.
The market potential is huge and the prospects are certain
According to Data from China's Ministry of Commerce, from January to May this year, China's actual use of foreign capital was 564.2 billion yuan, an increase of 17.3% year-on-year. In the first quarter, 72.1% of foreign-funded enterprises increased their capital in China by more than 5%. According to the 2022 White Paper on U.S. Businesses in China, recently released by the American Chamber of Commerce in China, 83 percent of companies surveyed do not consider moving production or procurement outside of China.
Observers believe that the Chinese market is large in scale, the industrial chain supply chain is stable, and foreign investors are still optimistic in the medium and long term.
Anna Maringbog-Uy, a researcher at the BRICS Policy Research Association in the Philippines, pointed out that the Chinese market is large in scale and consumer purchasing power is strong. A relatively modern economic system, first-class infrastructure and high-quality labor resources are the reasons why China continues to attract foreign investment.
On June 26, in Shandong Zhengkai New Materials Co., Ltd., the staff was processing high-end yarn. (Photo by Xinhua news agency reporter Guo Xulei)
A report jointly released in June by the European Union Chamber of Commerce in China and the German Mercator China Research Center pointed out that the vast majority of European companies are optimistic about China's huge market potential and rapid commercial application of R&D results, and will increase R&D spending in China this year.
Herbert Diess, ceo of Germany's Volkswagen Group, said in early July that Volkswagen was making a major investment in China and would hire "thousands" of software engineers.
International observers believe that in the long run, the general trend of China's economic stability, transformation and upgrading, and high-quality development has not changed. A China that is constantly expanding its opening up and is committed to making the development dividend benefit the whole world is full of expectations for the world.
Source: Xinhua Net